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06-992r HRA RESOLUTION NO. 992 APPROVING AMENDMENT TO SETTLEMENT OF EMINENT DOMAIN PROCEEDING WHEREAS, the Board of Commissioners is the official governing body of the Housing and Redevelopment Authority in and for the City of Richfield ("HRA"); and WHEREAS, on November 21, 2005, by Resolution No. 958 the Board of Commissioners of the HRA authorized and directed the acquisition of the real estate which is legally described in Exhibit A attached hereto ("Subject Property") by use of eminent domain proceedings; and WHEREAS, counsel for the HRA filed a petition in the district court for Hennepin County on December 7, 2005 to acquire the Subject Property by eminent domain proceedings and scheduled a hearing before the judge to whom the matter had been assigned for February 6, 2006; and WHEREAS, counsel for the owners of the Subject Property (listed on Exhibit B, hereafter "Owners") advised counsel for the HRA that the Owners objected to the taking of the Subject Property so that the attorneys asked the court to schedule a trial in district court for consideration of whether there is a public purpose and a necessity for the taking of the Subject Property; and WHEREAS, on February 27,2006, the HRA approved a mediated settlement agreement between the HRA and the Owners under which the HRA paid a total of $645,000 to the Owners and deposited $30,000 with the District Court Administrator to be held until after the Owners vacate the Subject Property and the HRA agreed that the Owners could occupy the Subject Property until November 1, 2006, at the Owners' option; and WHEREAS, the HRA may incur the obligation to pay the redeveloper of the Subject Property a significant amount for extraordinary damages if the HRA is not able to deliver possession of the Subject Property until after November 1, 2006; and WHEREAS, HRA staff have negotiated an amendment of the Stipulation of Final Settlement under which HRA will have the option to advance the date by which Owners will be obliged to vacate the Subject Property to on or before September 30,2006, which would be financially beneficial to the HRA. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF RICHFIELD IN REGULAR MEETING ASSEMBLED, that the First Amended Stipulation of Final Settlement attached hereto as Exhibit B is hereby approved and the Executive Director and the Chair of the HRA are authorized to execute said agreement and take all steps necessary in accordance with said agreement, Adopted by the Housing and Redevelopment authority in and for the City of Richfield, Minnesota this 25th day of July, 2006. " /J I / .~tff. ~ Suza M. Sandahl, Chair A~ov-. CO~ Donna Drummond, Secretary EXHIBIT A Leqal Description of Subiect Property 6300 Cedar Avenue South 26-028-24-11-0061 Richfield, MN The North 33 feet of Lot 4, Block 3; All of Lot 5, Block 3; and the South 17 feet of Lot 6, Block 3, all in "Iverson's Third Addition," Hennepin County, Minnesota. (Abstract property) 6320 Cedar Avenue South 26-028-24-11-0060 Richfield, MN The South 67 feet of Lot 4, Block 3, "Iverson's Third Addition," Hennepin County, Minnesota. (Abstract property) 1 Exhibit B Case Type: Condemnation STATE OF MINNESOTA DISTRICT COURT COUNTY OF HENNEPIN FOURTH JUDICIAL DISTRICT The Housing and Redevelopment Authority in and for the City of Richfield, a public body corporate and politic under Minnesota law, Court File No. 27-CV-05-18463 Petitioner, vs. Marvin F. Johnson and Deborah H. Johnson, as joint tenants; Richfield Bank & , Trust Co., by merger now known as M&I Bank; State Farm Auto Insurance, aka State Farm Mutual Auto Insurance Company; Nancy K. Olson; Hy's Loan Office, Incorporated, a Minnesota corporation; Mutual Service Casualty Insurance, by merger now known as Country Mutual Insurance Company, an Illinois corporation; Centerpoint Energy Resource Corp., a Delaware corporation, dba Minnegasco; Northern States Power Company, a Minnesota corporation, dba NSP; U.S. West now known as Qwest Corporation, a Colorado corporation; Marvin F. Johnson, dba Market Research Associates; AIR CARE-GO, INC., a Minnesota corporation; Iversons, Inc., a Minnesota corporation; City of Richfield; County of Hennepin; all other parties unknown, together with unknown heirs or devisees and spouses, if any, FIRST AMENDED STIPULATION OF FINAL SETTLEMENT Respondents THIS AGREEMENT is entered into this _ day of July, 2006, by and among The Housing and Redevelopment Authority in and for the City of Richfield, a public body 2 corporate and politic under Minnesota law, located at 6700 Portland Avenue, Richfield, Minnesota 55423, Petitioner herein ("HRA") and Respondents Marvin and Deborah Johnson and AIR CARE-GO, INC. (collectively "Objecting Respondents" or "Johnson"), located at 6300 Cedar Avenue South, Richfield, Minnesota. I. REelT ALS 1.01. HRA commenced this proceeding to acquire the real estate located at 6300 and 6320 Cedar Avenue, Richfield, MN, which is legally described on Exhibit A attached hereto and incorporated herein ("Subject Property"). 1.02. Pursuant to the Stipulation of Final Settlement in the above captioned matter, dated March 21, 2006 ("Original Stipulation of Final Settlement"), the HRA and Johnson agreed upon the total amount of damages to be paid to Johnson in final settlement of all of Johnson's claims as a result of the taking of the Subject Property by HRA (except relocation benefits which will be separately negotiated and paid) and that Johnson would deliver possession of the Subject Property to HRA by November 1, 2006. 1.03. Pursuant to the Stipulation of Final Settlement, Johnsons delivered a deed for the Subject Property to the HRA, dated April 3, 2006, and pursuant to the Findings of Fact, Conclusions of Law and Order Transferring Title and Possession in this matter filed March 28, 2006 in the office of the District Court Administrator and the Receipt of the District Court Administrator filed April 26, 2006, HRA deposited the Deposit with the District Court Administrator. 1.04. HRA has requested that Johnson agree to amend the Stipulation of Final Settlement to give the HRA the option to require Johnson to deliver possession of the 3 Subject Property to HRA on or before September 30, 2006. The parties intend that this First Amended Stipulation of Final Settlement describe the terms under which Johnson will agree to modify the Stipulation of Final Settlement as requested by HRA. 1.05. As modified, this agreement shall constitute the Stipulation of Final Settlement by, between and among the parties. II. AGREEMENT NOW, THEREFORE, in consideration of the premises, their mutual promises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 2.01. Incorporation of Recitals. The foregoing recitals are made a part of this Stipulation. 2.02. Waiver of Obiections. Subject to performance by HRA under this Agreement, Objecting Respondents each waive any and all objections which they may otherwise have been entitled to interpose in this proceeding to: (a) The jurisdiction of this Court both as to the subject matter and as to them personally; (b) The public purpose and necessity of the HRA's taking of the Subject Property; and (c) The legality of the process followed by the HRA in creation of the Redevelopment Plan and the Redevelopment Project, the adoption of the eminent domain resolution and all other proceedings relating to the acquisition by the HRA of the Subject Property; and 4 (d) The requirements of Minn. Stat. S 117.042 that the HRA as condemning authority give Objecting Respondents at least 90 days notice prior to the transfer of title and possession of the Subject Property to the HRA (subject to the provisions of this Agreement). 2.03. Entry of Orders. Subject to performance by HRA under this Agreement, Objecting Respondents, in accordance with the terms stated herein, also stipulate and agree to the issuance by the above Court of: (a) Findings of Fact, Conclusions of Law and Order Approving Petition and Appointing Condemnation Commissioners ("Order Approving Petition") in the above matter in the form attached hereto as Exhibit C; and (b) Findings of Fact, Conclusions of Law and Order Authorizing Transfer of Title and Possession ("Quick Take Order") in this matter in the form attached hereto as Exhibit D. 2.04. Mediated Settlement Aqreement. The provisions of the Mediated Settlement Agreement between the parties which is attached hereto as Exhibit Bare hereby incorporated herein by reference. 2.05. Total Damaqes. HRA and Johnson agree that, provided Johnson provides HRA with marketable title to the Subject Property, HRA shall pay Johnson total damages due to the taking of the Subject Property and to extinguish all claims of Johnson and all other respondents named herein of $675,000 C'Settlement Amount"), including reimbursement of appraisal fees and interest (not including relocation benefits) as follows: (a) On or before March 31, 2006, the HRA will deposit $30,000 (the "Deposit") with the District Court Administrator. 5 (b) On or before March 31, 2006, the HRA will pay Johnson $645,000 ("Settlement Sum") which is agreed to be fair market value and just compensation due and owing for land, building and fixtures in the Subject Property, pursuant to this proceeding. 2.05A.lnducement Deposit. If HRA elects to advance the date by which Objecting Respondents are obliged to vacate the Subject Property from on or before November 1, 2006 to on or before September 30,2006, the HRA shall deposit $100,000 (the "Inducement Deposit") with the District Court Administrator on or before September 1, 2006, which amount shall remain on deposit as additional security to assure vacation of the Subject Property by Objecting Respondents as provided in Sections 2.09 through 2.13 of this Agreement. In the event HRA makes the Inducement Deposit on or before September 1, 2006, Objecting Respondents shall be obliged to vacate the Subject Property on or before September 30, 2006. In the event HRA fails to make the Inducement Deposit on or before September 1, 2006, Objecting Responden~s shall be obliged to vacate the Subject Property on or before November 1, 2006 as provided in the Original Stipulation of Final Settlement. 2.06. Stipulation to Commissioners Award. Petitioner and Objecting Respondents agree to the issuance by the Court Appointed Commissioners herein of an award of damages in the total amount of $675,000 which is payable entirely to Objecting Respondents, as their Interests may appear, and with $0 payable to all other respondents (except for any amount which may be payable to Hennepin County for real estate taxes payable in 2005 and previous years or to City of Richfield for special assessments levied or pending as of February 21, 2006). 6 2.07. Entry Upon Property. Petitioner, its agents and assigns, shall have the right upon reasonable notice at any time following execution of this Agreement and prior to delivery of possession of the Subject Property by Objecting Respondents to HRA to enter upon the Subject Property for the purpose of making inspections, taking soil test and borings, making surveys, and performing other investigative work by HRA's employees and agents. 2.08. No SubleasinQ. Objecting Respondents agree that they will not sublease or rerent the Subject Property to any third party after execution of this Agreement and will hold the HRA harmless, defend and indemnify the HRA against the claims of any tenant not named in Exhibit A attached hereto for relocation benefits pursuant to federal or state law. 2.09. Continued Possession. Objecting Respondents may continue to occupy the Subject Property until September 30, 2006, if HRA makes the Inducement Deposit (or November 1, 2006, if HRA does not make the Inducement Deposit) provided that they: (a) Maintain existing policies of comprehensive general public liability insurance covering all acts of AIR CARE-GO, INC. and all of its subcontractors, employees, agents, representatives and guests on or about the Subject Property. All such insurance policies shall name the HRA as additional insured; (b) Maintain existing policies of automobile liability insurance (including owned, non-owned and hired or otherwise employed vehicles); (c) Pay the cost of all sewer, water, electric, natural gas, telephone, garbage collection and disposal, cable television and other utility services which 7 are provided to the Subject Property during the period of AIR CARE-GO's occupancy of the Subject Property (collectively, "Utility Service"). However, AIR CARE-GO, INC. shall not have the duty to pay real estate taxes or special assessments during the Possession Period; (d) Pay the cost of any repairs which AIR CARE-GO, INC. in its sole discretion deems necessary during its possession of the Subject Property (notwithstanding the foregoing, if the HRA reasonably determines that AIR CARE-GO's failure to undertake repairs has caused the Subject Property, to become a hazard to public health or safety or a nuisance, the HRA and City shall not be precluded from exercising the City's statutory right to abate the nuisance or otherwise address the problem and if the City elects to do so, the HRA or City shall have the right to recover from AIR CARE-GO, INC. the reasonable costs incurred by the HRA or City in undertaking such repairs as the City in its reasonable discretion deems necessary to protect the public health or safety or to abate the nuisance) ("Required Repairs"); (e) Removes all personal property, garbage and debris from the Subject Property prior to vacation of the Subject Property by AIR CARE-GO, INC.; (f) Pay HRA a monthly rent ("Rent") of $200 payable on or before the first day of each month following payment by HRA to Objecting Respondent of the Settlement Amount and on the first day of each month thereafter until the earlier of the following: (i) AIR CARE-GO, INC. delivers possession of the 8 Subject Property to HRA, or (ii) September 30, 2006 (or November 1, 2006 if the HRA does not make the Inducement Deposit). 2.10. Order Compellinq Delivery of Possession. In the event of Objecting Respondents' failure to timely vacate the Subject Property, upon five days' written notice by HRA to Objecting Respondents in accordance with this Agreement, HRA shall be entitled to seek an order of the District Court pursuant to Minn. Stat. S 117.043 compelling delivery of possession of the Subject Property and otherwise enforcing the provisions of this Agreement, which order may provide an award of attorneys fees, costs and disbursements in favor of HRA. 2.11. Liquidated Damaqes. Subject to its performance in accordance with this Agreement, AIR CARE-GO, INC. may occupy the Subject Property for the full Possession Period, from the date of this Agreement until September 30, 2006 (or November 1, 2006 if the HRA does not make the Inducement Deposit). If AIR CARE- GO, INC. fails to vacate the Subject Property on or before September 30, 2006 (or November 1, 2006 if the HRA does not make the Inducement Deposit) and to deliver possession thereof to HRA, AIR CARE-GO, INC. shall be in default under this Agreement and shall owe the HRA liquidated damages in the amount of $1 ,000 for each day thereafter which shall elapse prior to AIR CARE-GO, Inc.'s vacation of the Subject Property, subject to the limits of the Deposit including accrued interest ("Liquidated Damages"). 2.12. Payments From Deposit. . If and to the extent that AIR CARE-GO, INC. fails to pay the cost of Utility Services, Required Repairs, Rent, Liquidated Damages or other amounts due from AIR CARE-GO, INC. to HRA pursuant to this Agreement which are 9 attributable to AIR CARE-GO, INC.'s occupancy of the Subject Property after the Deposit, upon the affidavit of counsel for the HRA, the District Court Administrator shall disburse such amounts and the costs, disbursements and reasonable attorney fees incurred by the HRA in recovering such amounts to the HRA from the Security Deposit and the Inducement Deposit. Upon payment by AIR CARE-GO, Inc. of the cost of Utility Services, Required Repairs, Rent, Liquidated Damages, or other amounts due from AIR CARE - GO, Inc. to HRA pursuant to AIR CARE-GO, Inc.'s occupancy of the Subject Property after the Deposit, and disbursement to HRA of any costs, disbursements and reasonable attorney fees incurred by the HRA in recovering such amounts, the remainder of the Deposit and Inducement Deposit, and accrued interest thereon shall be disbursed to Johnsons. In such event, Counsel for Johnsons and HRA shall stipulate to an order of the Court directing such disbursement. 2.13. Indemnitv. AIR CARE-GO, INC. agrees that it will defend, indemnify and hold the HRA harmless against any and all claims against HRA relating to the Subject Property arising from the acts of Objecting Respondents (or any thereof), so long as AIR CARE-GO, INC. is permitted to occupy the Subject Property in accordance with the provisions of this Agreement. 2.14. Continqencv. This Agreement is contingent upon (a) execution of this Agreement by all parties; (b) the Court's issuance of the Order Approving Petition; and (c) the Court's issuance of the Order Authorizing of Title and Possession. 2.15. Effective Date. The effective date of this Agreement shall be the date of its execution by the last party to execute this Agreement. 10 2.16. Notices. All notices, demands and requests required or permitted to be given under this Agreement shall be in writing, and shall be personally delivered, deposited in U.S. Mail, postage paid, registered or certified, return receipt requested, or deposited prepaid for overnight delivery by a reputable overnight courier service, in any case addressed as follows: If to JOHNSON: Marvin F. Johnson and Deborah H. Johnson 6300 Cedar Avenue Richfield, MN 55423 With a copy to: Howard Roston, Esq. Malkerson, Gilliland, Martin LLP 1900 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402-4511 If to HRA: Richfield HRA Attention: Bruce Palmborg 6700 Portland Avenue So. Richfield, MN 55423 With a copy to: Robert J. Lindall, Esq. Kennedy & Graven, Chartered 470 US Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 11 If to AIR CARE-GO, INC.: AIR CARE-GO., INC. Attn: Marvin F. Johnson, President 6300 Cedar Avenue Richfield, MN 55423 With a copy to: Howard Roston, Esq. Malkerson, Gilliland, Martin LLP 1900 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402-4511 Each party may change its address for notice hereunder by notice given in accordance with the provisions hereof at least ten days prior to the effective date of the address change. Notice shall be deemed given upon the earlier of personal delivery, two days after the date postmarked, two days after depositing with such courier for delivery or upon the refusal to accept such service. 2.17. Other Terms. This Agreement shall be governed by the substantive law of the State of Minnesota. This Agreement may be executed in counterparts, each of which shall be deemed an original but which together shall constitute one and the same agreement. 2.18. Nondisparaqement. Each of the parties agree that the terms and conditions of this Agreement are fair and have been negotiated in good faith and that so long as they receive the bargained for considerations promised to them under this Agreement they will refrain from publication of oral or written statements disparaging the actions of other parties hereto in relation to the HRA's acquisition of the Subject Property. 2.19. Waiver of Claims. In consideration for the payment by HRA of the Settlement Amount, Johnson waives any and all claims it may have against HRA in 12 connection with HRA's acquisition of the Subject Property, including but not limited to damages, interest, attorneys fees, appraisal fees, costs and disbursements to which Johnson may otherwise be entitled or claim to be entitled, but not including relocation benefits. 2.20. Riqht to Further Proceedinqs. HRA and Johnson hereby waive all further hearings, proceedings and appeals in this matter except as either may elect in order to enforce or carry out the provisions of this Agreement. 2.21. Deposit. The parties agree that if Petitioner is not otherwise satisfied that Johnson has provided marketable title to the Subject Property as respects the possible interests of parties named in Exhibit A, the Deposit shall remain on deposit with the District Court Administrator until the claims, if any of such respondents in the Subject Property are determined. If Petitioner is not satisfied with the evidence of title provided by Objecting Respondents, Petitioner shall move the Court for an order with respect to other respondents named in Exhibit A pursuant to Minn. Stat. S 117.042 to acquire those interests and Objecting Respondents will appear and support an order determining that said other respondents have no interest in the Subject Property. 13 OWNER By: Marvin F. Johnson And by: Deborah H. Johnson AIR CARE-GO, INC By: Marvin F. Johnson, its President MALKERSON, GILLILAND & MARTIN, LLP By: Howard Roston, #260460 1900 U.S. Bank Plaza 220 South Sixth Street Minneapolis, MN 55402 (612) 455-6655 ATTORNEYS FOR OBJECTING RESPONDENTS The Housing and Redevelopment Authority in and for the City of Richfield By: Steven L. Devich, Executive Director KENNEDY & GRAVEN, CHARTERED By: Robert J. lindaU, #63277 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 (612) 337-9219 ATTORNEYS FOR THE HRA OF RICHFIELD 14 EXHIBIT A Parcel NO.1 (Abstract Property) (PID No. 26-028-24-11-0061) Property Address: 6300 Cedar Avenue, Richfield, MN 55423 Leoal Description of Subiect Property: All that part of Lot 4, Block 3, lying Northerly of a line drawn parallel with and 33 feet South of the North line of said Lot 4; All of Lot 5, Block 3, and the South 17 feet of Lot 6, Block 3, all in "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota. Together with abutting streets and alleys, vacated and to be vacated, accruing thereto upon vacation. Subject to drainage, utility and street easements as shown and dedicated on the recorded plat. Subject to easements of record in favor of City of Richfield, if any. Description of Takinos: The above described property, in fee simple. A. Interests Being Acquired Name Nature of Interest Marvin F. Johnson and Deborah H. Fee owner Johnson, as joint tenants Richfield Bank & Trust Co., by merger Mortgagee now known as M&I Bank State Farm Auto Insurance, aka State Possible holder of an interest pursuant to Farm Mutual Auto Insurance Company judgment against Deborah Johnson acquired in Case No. OCT J 96-11773. Nancy K. Olson Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCPD 96-12367. Hy's Loan Office, Incorporated, a Possible holder of an interest pursuant to Minnesota corporation judgment against Deborah Johnson acquired in Case No. OCT J 97-10977. Mutual Service Casualty Insurance Possible holder of an interest pursuant to Company, by merger now known as judgment against Debra Johnson acquired Country Mutual Insurance Company, an in Case No. OCT J 0018075. Illinois corporation A-I Name Nature of Interest Centerpoint Energy Resource Corp., a Possible holder of an interest pursuant to Delaware corporation, dba Minnegasco Bankruptcy Case No. 4-98-2561, of Debra Johnson. Northern States Power Company, a Possible holder of an interest pursuant to Minnesota corporation, dba NSP Bankruptcy Case No. 4-98-2561, of Debra Johnson. U.S. West now known as Qwest Possible holder of an interest pursuant to Corporation, a Colorado Corporation Bankruptcy Case No. 4-98-2561, of Debra Johnson. Marvin F. Johnson, dba Tenant Market Research Associates AIR CARE-GO, INC., Tenant a Minnesota corporation City of Richfield Special Assessments and Easements, if any. County of Hennepin Real Estate Taxes All other parties unknown, together with Any right, title or interest in the Subject unknown heirs or devisees and spouses, Property if any A-2 Parcel NO.2 (Abstract Property) (PID No. 26-028-24-11-0060) Property Address: 6320 Cedar Avenue, Richfield, MN 55423 Leqal Description of Subiect Property: The South 67 feet of Lot 4, Block 3, "Iverson's Third Addition", according to the recorded plat thereof, and situate in Hennepin County, Minnesota. Together with abutting streets and alleys, vacated and to be vacated, accruing thereto upon vacation. Subject to drainage, utility and street easements as shown and dedicated on the recorded plat. Subject to easements of record in favor of City of Richfield, if any. Description of Takinqs: The above described property, in fee simple. A. Interests Being Acquired Name Nature of Interest Marvin F. Johnson and Deborah H. Fee owner Johnson, as joint tenants Richfield Bank & Trust Co., by merger Mortgagee now known as M&I Bank State Farm Auto Insurance, aka State Possible holder of an interest pursuant to Farm Mutual Auto Insurance Company judgment against Deborah Johnson acquired in Case No. DCT J 96-11773. Nancy K. Olson Possible holder of an interest pursuant to judgment against Debra Johnson acquired in Case No. DCPD 96-12367. Hy's Loan Office, Incorporated, a Possible holder of an interest pursuant to Minnesota corporation judgment against Deborah Johnson acquired in Case No. DCT J 97-10977. Mutual Service Casualty Insurance Possible holder of an interest pursuant to Company, by merger now known as judgment against Debra Johnson acquired Country Mutual Insurance Company, an in Case No. DCT J 0018075. Illinois corporation Centerpoint Energy Resource Corp., a Possible holder of an interest pursuant to Delaware corporation, dba Minnegasco Bankruptcy Case No. 4-98-2561, of Debra Johnson. A-3 Name Nature of Interest Northern States Power Company, a Possible holder of an interest pursuant to Minnesota Corporation, dba NSP Bankruptcy Case No. 4-98-2561, of Debra Johnson. U.S. West now known as Qwest Possible holder of an interest pursuant to Corporation, a Colorado Corporation Bankruptcy Case No. 4-98-2561, of Debra Johnson. Marvin F. Johnson, dba Tenant Market Research Associates AIR CARE-GO, INC., Tenant a Minnesota corporation City of Richfield Special Assessments and Easements, if any. County of Hennepin Real Estate Taxes All other parties unknown, together with Any right, title or interest in the Subject unknown heirs or devisees and spouses, Property if any A-4 Exhibit B This is a mediated settlement agreement ("Agreement") as of February 21,2006 between the City of Richfield Housing and Redevelopment Authority ("HRA") and Marvin and Deborah Johnson and AIR CARE-GO (collectively "Johnson"). Recitals: The HRA has commenced a condemnation action, Court File 27-CV-05-18463 ("Action"). In the Action, the HRA is seeking to acquire the real property owned by the Johnsons identified in the Petition as Parcels 1, 2 and 3 ("Property"). The Johnsons are challenging the Petition and the HRA's right to condemn the Property. The HRA and the Johnsons ("Parties") desire to settle the Action in accordance with the terms of this Agreement. Now, therefore, for good valuable and sufficient consideration, the Parties agree as follows: 1. The HRA will pay to the Johnsons the total sum of $675,000 ("Settlement Sum") as the fair market value and just compensation due and owing for the land, building and fixtures that comprise the Property upon providing marketable title to the Property subject to easements of record as of the date hereof. 2. The HRA will pay the Settlement Sum no later than April 1, 2006 (less the sum set forth in paragraph 3 below). 3. From the Settlement Sum, the HRA shall deposit $30,000 with the Court (the "Deposit") to be paid out upon the vacation of the Property by the Johnsons in accordance with paragraph 8 below. 4. Provided that payment of the Settlement Sum is made the following shall occur: a. The Parties will stipulate that the Court may enter an order authorizing title to the Property to transfer to the HRA upon the payment of the Settlement Sum and the Deposit. Thereafter title shall transfer as provided for in Chapter 117 of the Minnesota Statutes. The HRA and the Johnsons will work on a mutually acceptable Court Order granting the HRA's Petition. b. The Johnsons shall vacate from the Property no later than November 1, 2006, provided that, in their sole discretion, the Johnsons may vacate earlier upon 48 hours written notice to the HRA ("Vacation Date"). Nothing contained herein shall be construed as requiring the Johnsons to vacate prior to November 1, 2006. The HRA will make a diligent effort to obtain the necessary approvals to permit the Johnsons to remain until November 15, 2006. If the HRA is able to obtain such approvals, the Vacation Date shall be November 15, 2006 or such earlier date as the Johnsons may vacate in their sole discretion ("Extended Vacation Date"). 5. From March 1, 2006 through the Vacation Date, the Johnsons shall pay to the HRA rent in the sum of $200.00 per month ("Rent"). The Rent shall be paid by the fifth business day of each month. If the Johnsons elect to vacate earlier than November 1,2006 (or November 15,2006) as set forth above in paragraph 4, Rent shall abate. 6. For as long as they are occupants of the Property, the Johnsons shall maintain any existing insurance in place and shall pay all utilities necessary for the Property. 7. The Johnsons shall have no responsibility for any special assessments levied against the Property from and after the date of this Agreement. 8. Provided that the Johnsons vacate the Property by the Vacation Date (or the Extended Vacation Date), and pay all rent and utilities due through the date of vacation, the HRA shall stipulate that the Deposit plus interest if any shall be paid to the Johnsons. 9. In recognition that the buildings on the Property will be demolished, the Johnsons shall not be obligated to perform any repair or maintenance of the Property from and after the date of this Agreement, except as required by law to protect health and safety. 10. Provided that the Settlement Sum is paid by the HRA as set forth above, the Johnsons waive any and all claims for compensation due and owing as a result of the HRA's condemnation of the Property. Nothing contained herein, however, shall be construed as a release or waiver of any claim that the Johnsons may have for relocation expenses under Minnesota Statutes Chapter 117 and the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, United States Code, title 42, sections 4601 to 4655, as amended by the Surface Transportation and Uniform Relocation Assistance Act of 1987. 11. The HRA waives any and all claims it may have against the Johnsons arising from or relating to the Property. A-2 12. This agreement is subject to approval of by the Board of Commissioners of the HRA on or before February 27,2006 or it shall be void. In the event the Agreement is not approved on or before February 27,2006 the parties shall jointly request the Court to continue the March 13, 2006 trial date to a mutually agreeable date. 13. Each of the parties shall pay their own attorneys fees and costs. A-3 Deborah H. Johnson Marvin F. Johnson AIR CARE-GO, INC. by Marvin F Johnson, President Malkerson Gilliland Martin LLP by Howard A. Roston (260460) The Housing and Redevelopment Authority in and for the City of Richfield ~ ,~ Executive Director and The Housing and Redevelopment Authority in and for the City of Richfield by , its Chair (Approved by HRA Resolution No. ) Kennedy & Graven, Chartered by Robert J. Lindall (63277) A-4